ITAT Pune removes Section 270A penalties due to defect in penalty notice lacking reference to specific misreporting clause. Appeals allowed for two assessment years.
ITAT Pune deletes Section 270A penalty on salaried assessee due to lack of specific clause in penalty notice and reliance on tax consultant’s actions.
ITAT Chennai rules on Sakthi Realty case, deleting additions for unexplained deposits. Details on customer deposits, tax assessment, and tribunal’s decision.
ITAT Surat rules penalty under Section 272A(1)(d) must be limited to first default, not per notice. Penalty reduced to ₹10,000 due to partial non-compliance.
ITAT Surat rules no penalty under Section 271(1)(c) if income is assessed on estimate. Penalty deleted as disallowances were based on turnover estimation.
ITAT Kolkata rules Sec 263 cannot exceed reassessment scope, limits revision period. Disallowances u/s 40A(3) sent back for scrutiny.
ITAT Delhi held that addition merely on the basis of entries found in the seized diary without any corroborative evidence and without any independent enquiry by AO is not sustainable. Accordingly, addition made by AO is deleted.
ITAT Kolkata removes ₹1 crore penalty under Sec 271E, ruling cash transaction between sister concerns as reimbursement, not loan repayment.
Kolkata ITAT allows appeal by Youth Potent Potation, overturning disallowances on partners’ salary, staff expenses, accounting charges, and donations for AY 2015-16.
ITAT Kolkata held AO’s order under Section 144C(13) was passed beyond limitation; quantum appeal allowed, stay application dismissed.
